Gold price fluctuations

[katmonkey]

Looking at the gold chart on bullionbypost I noticed a sharp drop in price.

What causes these fluctuations & has anyone benefitted from buying at the lower price?

[Abyss]

IMHO looking at Gold chart on dealers website not best way to identify trends/patterns add indicators and try judge for yourself where the price level of Gold is heading. Free charts available on https://in.tradingview.com/ type in the ticker GOLD bring list of Gold price in various currencies. As for what causes sharp drops in the price of Gold it is traded like any other commodity on the exchange oil, natural gas, currencies, etc and these fluctuate (sometimes sharply) because of economic data, politics, trading, manipulation, etc.

Everyone who has bought at lower price than the current spot price has benefited but those benefits do not materialise until you have sold.

 

[silenceissilver]

We had a similar thread, recently: